Venu Sports Joint Venture Scrapped By Partners

deadline.com:

Venu Sports, the proposed virtual MVPD service from ESPN, FOX and Warner Bros. Discovery, will be discontinued, the three companies said in what they called a collective decision not to move forward with the contemplated joint venture.

The decision is effective immediately. The move is surprise as a transaction announced earlier this week between Disney and Fubo appeared to have paved the way for Venu to launch.

The debut of the sports streaming service had been delayed by a Fubo lawsuit that was headed to court. “After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service.

In an ever-changing marketplace, we determined that it was best to meet the evolving demands of sports fans by focusing on existing products and distribution channels.